Discuss how the internet presents opportunities and threats for business in your country.
Never in the history of the world has there been a resource as valuable, versatile and all-encompassing as the internet, especially when it comes to impacting American business. Every day business owners go to the web to draw information about important issues on topics like Human Resource matters, legal challenges and opposition from competitors. And yet despite the incredible benefits of this priceless resource, there is a dark downside that poses serious threats to the way we conduct our commerce.
The upside is that any business owner, officer or employee has access to virtually limitless knowledge about their market, local and national economic trends, and their business world, among a myriad of other categories of information. At the touch of a finger you can draw general or detailed information about any topic, whether it’s consumer trends or the rise and fall of entire industries. Hence, the importance of what the web can bring to business is almost limitless. And yet …
The downside is that with these benefits come substantial risks, some known and some unknown. Known risks include the reliability of information posted on the web, the identity and reputation of resources, and the dilemma of missing important information when you are literally swimming in data and facts. Add to that the threat of virtual spies who want to steal your trade secrets, financial data and employee identifies and you have one huge headache to deal with – everyday! It all boils down to this one question.
Do the benefits outweigh the risks? In my book they absolutely do. Take specific steps to protect yourself from known and unknown threats and you end up with a very useful tool that can not only improve your productivity and the quality of your product, but your bottom line too. Simply put, American business could not live without the internet.
The opportunities that the internet affords is great.
First, the internet allows businesses to have a huge footprint as it is able to market to people all over the world. A good example of this is Amazon.com.
Second, the internet allows for non-traditional business methods that save on costs, which make a business more competitive. Again if we look at a Amazon.com, they are able to have low prices because they do not have brick and mortar stores.
Another opportunity that the internet affords is that it is able to gain the wares and goods of various users in one place. Just think of Etsy. It is like a grand bazaar on your computer.
All of these are undoubtedly benefits, but there are also downsides. Nearly anyone can start an online business, which means competition is fierce. Also there can be hacking, which may deter some people from online transactions.